$835 Million Ginnie Mae Servicing Portfolio Hits Market. Mountain Servicing Group (MSG), a residential mortgage servicing rights transaction and valuation advisor, has announced an $835 million Ginnie Mae bulk-servicing offering. The company is the exclusive advisor to the seller, described only as “one of the premier mortgage bankers in the country.” The portfolio includes 99.7 percent fixed-rate and 100 percent first-lien, government-backed loans, with a weighted average original FICO of 691. Its weighted origination loan-to-value ratio is 94 percent, and its weighted average interest rate is 4.0 percent. The average loan size is $205,309. Top states for the portfolio are California (23.9 percent), New York (9.6 percent), Florida (4.7 percent), and Pennsylvania (4.5 percent). “It’s an exceptionally clean GNMA portfolio, with very low coupon and low delinquencies,” said Robert Wellerstein, managing director at MSG. “We expect this package to ...

The volume of mortgages subserviced for others declined slightly in the second quarter, but still face bright prospects as many firms contemplate outsourcing the processing chore to specialists that can effectively handle an increasing array of compliance regulations. The nation’s three largest subservicers – Dovenmuehle, Cenlar and PHH Mortgage – had a combined subservicing market share of 55.8 percent at June 30, dominating the sector, according to exclusive survey figures compiled by Inside Mortgage Finance. On a sequential basis, Dovenmuehle grew...[Includes one data chart]

Capital standards for nonbank mortgage firms is inevitable. But what should the requirement be?

“If g-fee increases were being used to build up enterprise reserves, instead of being swept under the Treasury agreement, we would be more open to such increases,” said the CHLA.

it appears the halcyon days of legacy MSR sales are over. Or so Ocwen is telling Wall Street.

The Federal Housing Finance Agency should abandon its proposed increase in guaranty fees charged by Fannie Mae and Freddie Mac, according to a number of industry groups. The Mortgage Bankers Association said in a comment letter that it opposes hikes in g-fees and loan-level price adjustments, noting that g-fees have become attractive to Congress as cash cow means for funding non-housing programs. “Clearly, the GSEs were undercapitalized...

Concern about government-proposed capital rules for private mortgage insurers and their potentially negative effect on MI premiums has prompted loan guarantors and others to call for changes. The Mortgage Bankers Association, National Association of Realtors and several private MI companies have urged the Federal Housing Finance Agency to ease proposed capital requirements for private MIs. As written, the proposed rules could cause MI premiums to spike, making it more difficult for first-time homebuyers to purchase a home and for MIs to maintain market share, they warned. The draft Private Mortgage Insurer Eligibility Requirements (PMIERs) is...

Federal regulators should craft capital requirements for nonbank mortgage companies that emphasize areas of risk that demand adequate capital and profitability, such as lending and mortgage securitization, instead of areas that are more connected with operational efficiency and compliance, such as loan servicing, according to the Kroll Bond Rating Agency. The Federal Housing Finance Agency is trying to determine how much capital a nonbank mortgage company involved in lending, securitization and/or servicing needs in order to minimize the potential risk to the government-sponsored enterprises, while Ginnie Mae is researching the risk posed by nonbank issuers. “How much capital does a nonbank seller/servicer need...

Altisource Portfolio Solutions has rolled out a new operating platform for brokers, table funders and third-party vendors.

One observer familiar with Stegman’s remarks said, “I think it’s clear that he likes what Redwood is doing in the system.”